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This form is for a net operating loss carry-back adjustment by an individual or fiduciary that desires a refund of taxes afforded by carry-back of a net operating loss. Complete, save and print the form online using your browser.
- G e orgia Form 500-NOL
2. 500-NOL Page 3 must be completed. If the loss year is a...
- Georgia Form 500 (Rev. 06/20/20)
O.C.G.A. § 48-7-29.9 provides a tax credit for Georgia...
- G e orgia Form 500-NOL
2. 500-NOL Page 3 must be completed. If the loss year is a part year or nonresident year for Lines 3a, 3b, 6, and 11, compute the amount and then multiply it by the percentage of Georgia AGI to adjusted Federal AGI on schedule 3 of the loss year return.
25 Οκτ 2024 · Georgia Form 500-NOL, Net Operating Loss Adjustment For Individuals and Fiduciaries, is used to calculate the net operating loss for Georgia and establish the NOL in the Georgia Department of Revenue's system for the purpose of either carrying the NOL back or forward.
Print Blank Form > Georgia Department of Revenue
Note: The other state(s) tax credit and low income credit are claimed directly on Form 500. Series 100 Georgia tax credits (except Schedule 2B refundable tax credits) are claimed on Form 500 Schedule 2 and returns that include the series 100 credits must be filed electronically.
The Form 500-NOL should be filed even when the carryback period is foregone. Example: A taxpayer has a large Net Operating Loss in 1998 (both Federal and Georgia). With his timely filed Federal return, he includes a statement that he elects to forgo the carryback period.
O.C.G.A. § 48-7-29.9 provides a tax credit for Georgia residents who are members of the National Guard or Air National Guard and are on active duty full time in the United States Armed Forces, or active duty training in the United States Armed Forces for a period of more than 90 consecutive days.
